MUMBAI, July 9: Pivotals once again turned bullish on the Bombay Stock Exchange (BSE) as well on the National Stock Exchange (NSE) today on emergence of speculative support coupled with continued buying by foreign institutional investors (FIIs). The Sensex crossed the 4400-mark.Trading commenced on a better note and BSE sensitive index started higher at 4315.42 but remained steady during the major part of the session thereafter.

However, pivotals attracted brisk buying support towards the end and index closed at the session's best level of 4404.83 compared to the previous level of 4306.39. The BSE-100 index also crossed the 1900-mark and finished at 1904.65 against the previous level of 1860.49.Brokers said the sentiment was steady but suddenly turned firm following all round buying support by FIIs.

FIIs bought good amount of Indian Organic, Satyam Computer, Tata Tea, Colgate, Nestle, Castrol, MTNL, HDFC, Telco and Tisco shares. Market men said a cheerful atmosphere prevailed due to FII buying as they used to compare the situation with other emerging markets. The fresh speculative support was also due to start of the new account on the NSE.The volume of business crossed the Rs 1000 crore mark and touched at Rs 1039.33 crore of which A group attracted business of Rs 977.62, constituting about 94 per cent of the total.

The poor volume continued in B2 group which recorded only Rs 6.17 crore (0.59 %). Reliance attracted highest volume of Rs 164 crore, followed by Tisco of Rs 111.84 crore, SBI of Rs 97.43 crore, Telco of Rs 96.43 and ITC of Rs 77.80 crore.Telco rallied from Rs 433 to Rs 456 on specuative support with a net gain of Rs 25.25. Tata Steel firmed up from Rs 213.25 to Rs 221.75 and Tata Tea from Rs 399 to Rs 420.25 on fresh buying. MTNL recovered smartly from Rs 289.50 to Rs 304.50 on short-covering.

Glaxo rallied from Rs 441.50 to Rs Rs 462 and Dr Reddy's from Rs 300.75 to Rs 341.75 on investment support. SBI moved between Rs 358 and Rs 353.75 before closing at Rs 354.25 with a small loss of 50 P. ITC also declined from Rs 561 to close at Rs 549.50 on profit taking. On the NSE, share prices recovered smartly on the first day of the current settlement following brisk buying. The NSE-50 index closed at 1236.55, showing a smart rally of 38.30. The Midcap closed at 1298.60 with a gain of 52.80. The total volume was Rs 1995.90 crore.

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